Unchained CFTC Commissioner Caroline Pham on Why US Crypto Regulators Get a B- Ep. 365
Jun 21, 2022
Caroline Pham, a Commissioner at the CFTC focusing on crypto asset regulation, shares her journey into the world of cryptocurrency and effective regulatory strategies. She emphasizes the importance of balancing innovation with oversight, especially after the Terra collapse. Pham advocates for transparency in regulation and the need for collaboration between the SEC and CFTC. She discusses the role of crypto in the financial system, the importance of self-determination, and her views on regulation as a path to maintaining the US's financial leadership.
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Bitcoin Foundation Visit
- Commissioner Pham's crypto journey began in 2013 with the Bitcoin Foundation's visit to the CFTC.
- They questioned their regulatory authority over Bitcoin, recognizing its potential as both a store of value and a means of exchange.
Transparency in Regulation
- Transparency is crucial for public trust in regulatory processes.
- Regulators should provide open access and clear communication to ensure fairness and understanding.
Balancing Speed and Thoroughness in US Crypto Regulation
- The U.S. regulatory approach, while decentralized, offers expertise from various agencies.
- It's crucial to get regulation right, balancing speed with thoroughness to foster American innovation and prevent capital flight.